On 20 March 2017, ASX replaced ASX Trade24 with an upgraded new derivatives trading platform allowing ASX to create a more flexible platform for the future.
By using standard global interface protocols customer connectivity will be simplified with minimal operational changes for the user. The new platform is easily extended, highly scalable and provide efficient and fast time to market for new products and services.
Some key features include:
- Replacing the existing custom market facility with more dynamic User Defined Combinations (UDC) which will be particularly useful for options strategies and non-exchange listed spreads.
- Ability for ASX to create additional Exchange Defined Combinations (EDC), such as the 3s - 10s spread. The first of these new EDCs are the Bill Butterflies.
- Re-enabling the use of the exchange provided functionality to trade the 3 year bond vs 10 year bond inter-commodity spread during the quarterly roll period.
- More efficient leg price generation when trading Packs and Bundles. Trade confirmation of the average price and indivdual leg fills will occur on execution.
- New Order Type features where new limit orders behave as a sweep order type filling level by level adhering to a limit price, market to limit orders replace MLM orders (a best opposite order type) and Time in Force (TIF) orders can specify how long the order remains in effect.
- Unintentional Crossing Prevention (UCP) where on-market executions not resulting in a change to benefical ownership can be prevented.
Please see the ASX 24 Trading Platform Guide for more information on functionality available on the new derivatives trading platform.
Technical documentation and resources assisting customers with connectivity, protocol specifications and testing are available in the Document Library.
The ASX New Trading Platform pre-implementation timeline outlines key dates and information.